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Government Arranges Loan Payment with Chinese bank 

Apr 2021 | Source: BETA
Government Arranges Loan Payment with Chinese bank 

The Montenegrin government has reached an agreement with China’s Exim Bank on a temporary deferral of repayment of USD60m of the Barska Plovidba and Crnogorska Plovidba maritime transportation companies. The Montenegrin government has reached an agreement with China’s Exim Bank on a temporary deferral of repayment of USD60m of the Barska Plovidba and Crnogorska Plovidba maritime transportation companies. “After difficult negotiations in the Chinese language in our small and Beijing’s morning hours, we managed to make progress due to the newly created complex situation regarding the guarantees,” Minister of Finance and Social Welfare Milojko Spajic tweeted. He added that the government had temporarily delayed the expected payment, web portal CdM reports. “Out of the total claims worth USD58m, at this time we shall regulate the January installment of USD3.9m. We are continuously seeking further sustainable solutions, while any current benefit means a lot, bearing in mind the complexity of the economic situation,” Spajic concluded. The Agency for the Protection of Competition has ordered the halting of further state aid payments to Barska Plovidba and Crnogorska Plovidba. A EUR4.65m installment, which neither company was able to repay, was due on Jan. 21.  

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